During the week ending August 12, prices in the Chinese domestic cold rolled coil (CRC) market have been characterized by various trends, with CRC moving on an uptrend and cold rolled sheet (CRS) indicating a slight downtrend, while transaction activity in the overall market has been at low levels. Average CRC prices in the local Chinese market are presented in the following table.
During the given week, traders have mostly been maintaining a cautious stance in the CRC domestic market in the past week. Meanwhile, major Chinese steelmaker Baosteel has issued its ex-works prices for September delivery, keeping its CRC prices stable. With the approach of the 70th anniversary in early September of China’s victory in the war against Japan, steelmakers in northern China will be obliged to cut their production as of August 20, which will reduce supply volumes in the local CRC market and thereby provide support for prices. It is expected that CRC prices in the Chinese domestic market will likely indicate a slight rising trend in the coming week.
| Product name | Spec. | Category | City | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
| Thin CRC | 1.0 mm x 1,250 mm x C | ST12 | Shanghai | MaSteel | 2,560 | 399 | ↑10 |
| Tianjin | Tangshan Steel | 2,660 | 414 | ↑90 | |||
| Lecong | MaSteel | 2,600 | 405 | 0 | |||
| Average | - | 2,607 | 406 | ↑34 | |||
| Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 2,610 | 407 | ↑30 |
| Tianjin | Anshan Steel | 2,790 | 435 | ↓50 | |||
| Lecong | Anshan Steel | 2,620 | 408 | 0 | |||
| Average | - | 2,673 | 416 | ↓7 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.33